LUXE Property Management
Q | What employees bring tenants to our market?
A | Our largest employment sector in Oklahoma is the Government. Oklahoma City is the capital of Oklahoma. We have two major federal employers, Tinker Air Force Base and FAA which is Federal Administration of Aviation. Boeing also has a large research campus here. We also have several national headquarters right here in our home state such as Paycom in the software sector. Sonic which is in the restaurant, Hobby Lobby which is in the retail sector and Devon & Chesapeake energy which are in the oil and gas sector.
Q | What drives our market?
A | These employees work hand in hand in driving tenancy resulting with a low vacancy rate. Oklahoma vacancy rate is lower than the national average. Tenants are moving to Oklahoma for contracts at Tinker, FAA or Boeing for example. This population will move here and not buy until they decide that they are going to be permanently stationed in Oklahoma. This in result brings a middle class tenant for that contract period which creates a great investment opportunity in Oklahoma.
Q | How do you qualify your tenants?
A | We require anyone over 18 to complete an application. Each applicant will need verifiable income for one year or longer, 6 months previous rental history, gross three times the rent, no felonies, no evictions or multiple misdemeanors. We do complete background and credit checks on each applicant.
Q | How long do you hold your vacant homes?
A | We hold any vacant home for about 2 weeks unless approved by the owner.
Q | How Hard is it to evict a tenant in Oklahoma?
A | The Oklahoma Evicition laws are very landlord friendly. We send a notice to quit and then 5 days later are able to file in the county courts for FED(Forcible Entry and Detainer). After filing a court date will be set about 5 days later for hearing. Once the hearing date is here, landlords will get possession of the home if rent is still unpaid. After possession a lock out can occur 48 hours afterwards. A typical eviction in Oklahoma can take about 3 weeks start to finish.
Q | How long have you been in business?
A | I started the journey in property management in April of 2003. Started as a leasing agent for a large multi=family company, then soon pursued the position of Regional Trainer/Supervisor and assisted in the oversight of 2,600 units. Shortly after receiving my 10-year employment recognition. I shifted my focus and energy to management oversight of single-family homes. In January of 2019 Crystal and her husband, Benjamin Caulk, opened LUXE Property Management.
Q | How many total units do you presently manage?
A | Currently as of June 2019 we manage a total of 325 properties with a mix between SFH and multi-family unites.
Q | What locations or areas do you manage?
A | We manage property all around the metro and surrounding areas.
Q | Are there any upfront fess I am expected to pay at the beginning of agreement?
A | No. Once we place your first tenant we will hold back the reserved amount to build your account. If there is a make ready or rehab needed that will be handled separately.
Q | What property management software do you use?
A | We proudly use Appfolio. It’s a complete PM software. You can find out more information on the software at www.appfolio.com.
Q | How do the owners get the rent?
A | Rents are deposited into your account on the 10th and 20th of each month. You will also receive a online statement that is uploaded directly to your owner ortal. All end of year accounting will be shared with your portal as well.
Q | Do you have your own repair staff?
A | We work with a team of outside contractors. These contractors meet all contractor requirements with insurance etc.
Q | Do you mark up maintenance?
A | We do NOT mark up maintenance or repairs. We do not use maintenance as an income stream. All maintenance is a pass through and owners get our discounted rates.
Q | Do you complete property inspections?
A | We complete per contractor one inspection per lease period.